Indian soyaoil futures jumped to all-time highs for a third consecutive session on Monday, taking cues from firm prices in the physical market and a sharp rise in rival palm oil contracts in Malaysia. The March contract rose by 4 percent, the upper limit for a day, to record 729.2 rupees ($18.1) per 10 kg.
It later came off and by 3:22 pm (0952 GMT) was at 716.50 rupees, up 2.2 percent. The April contract was up 4 percent at 684.40 rupees. Spot prices in the central city of Indore rose more than 3.4 percent to 69,500 rupees a tonne.
In Malaysia, palm oil May contract hit a record high of 4,332 ringgit ($1,355.2) and was later trading at 4,325 ringgit, up 8 percent, as supply concerns and speculative funds propelled global vegetable oil markets. Soyaoil and palm oil are related commodities and their prices often move in tandem.